We first covered the Readius E-book reader over a year ago because the concept is quite dazzling. An electronic reader that closes into a device fitting in your hand but opens up to expose a nice E-ink display is very practical. The Readius uses a roll-able screen that unfolds when opened to make for a highly portable device while also providing a decent reading experience.
We haven’t heard anything about the Readius for a good while and it may be related to information obtained by Wired. It seems that the company behind the device, Polymer Vision, can’t bring it to market without a cash infusion. They claim the Readius is ready to go but they need money to bring it into production.
Polymer Vision, a a spin-off of electronics giant Phillips, needs a cash infusion to keep going, says CEO Karl McGoldrick.
“Our whole supply chain is in place but the device is not in market because, like many other companies, we have had financial difficulties,” he says. “The last nine months have been very difficult for young companies.”
The Readius incorporates 3G connectivity to provide a vehicle for obtaining content similar to the Amazon Kindle. There will not be a dedicated bookstore for the Readius, as the company is in discussions with major retailers.
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